Shares of Aruba Networks (NASDAQ: ARUN) were down over 10 percent in Friday's pre-market session. This move came despite the company achieving record top-line performance in its fiscal 2014 third quarter.

Dominic Orr, Aruba president and CEO, commented, "We believe our exceptional topline performance this quarter reflects the investment we made in extending our sales and channel capacity, coupled with the strength of our differentiated architecture and product portfolio."

However, a good top-line does not necessarily mean a good bottom-line. Following the release, J.P. Morgan said Aruba missed its gross margin estimate of 72.1 percent by 1.6 percent.

In contrast to its GAAP figure, Aruba reported a non-GAAP net income of $22.8 million. A reconciliation of GAAP and non-GAAP figures can be found in the press release.

Gavin continued by expressing confidence in Aruba's ability to maintain its 71-73 percent gross margin target range as they begin to see "a more balanced product mix" due to the roll out of its new 802.11ac products.

Aruba was trading down 16 percent at $16.82 shortly after Friday's opening bell.